The key focus areas for Aster GCC, after its separation from the India business, include unlocking the value of the GCC business, aiming to emerge as a healthcare champion in the region, a senior official said on Wednesday.
“This separation is driven by different growth dynamics and business strategies between the GCC and India healthcare markets. The GCC business, now a private entity, will focus on operations in UAE, Saudi Arabia, Qatar, Oman, Bahrain, and Jordan. Additionally, Aster GCC aims to enhance its leadership position in the GCC healthcare sector through strategic partnerships, collaborations, and potential acquisitions, especially in high-growth markets like Saudi Arabia. The focus will be on delivering high-quality healthcare services, expanding bed capacity, diversifying revenues, and leveraging digital healthcare solutions to meet evolving patient needs,” Alisha Moopen, managing director and group CEO, Aster DM Healthcare GCC, told Khaleej Times in an interview.
Under the new agreement, Fajr Capital has acquired 65 per cent of Aster GCC. “The partnership aims to drive top-line growth, expand Ebita margins through efficient operations, and pursue an ambitious pan-regional growth strategy, particularly in core markets such as Saudi Arabia for which we are developing the strategy, which strengthening our presence in other countries like UAE and Oman,” Moopen said.
She remained bullish on the outlook for the GCC healthcare market, with expected growth driven by factors such as increasing demand for hospital beds, expansion of healthcare services, and rising investments in the healthcare sector. “Despite seasonal variations during summer months due to expat travel, the GCC region remains a global growth hotspot for healthcare. The market is mostly insurance-driven, focusing on primary and secondary healthcare services, with opportunities for growth in tertiary and quaternary care facilities. The partnership with Fajr Capital and the consortium of investors underscores confidence in the GCC healthcare market’s potential for sustained growth.,” Moopen said.
Aster’s future expansion plans in the UAE include enhancing its healthcare offerings, particularly in tertiary and quaternary care, through initiatives such as the launch of Medcare Royal Hospital, a 126-bed super specialty hospital in Al Qusais. “The company aims to serve as a world-class destination for advanced healthcare services catering to both local and international patients. Expansion into key markets, newer wellness-focused business lines (Wellth), the launch of specialised centres, and a focus on digital healthcare solutions like telehealth and the myAster app are part of Aster’s strategy to meet the evolving healthcare needs of patients in the UAE,” Moopen said.